New Car Loans

Shopping For A New Vehicle?

Buying a new car is a big decision. It’s important to calculate the best rate and term that fits your budget to ensure you know how much you can spend. Joining a credit union can give you access to loan specials and better car loan interest rates which can help you afford more car for your money. Some lenders even offer extra protection, such as Mechanical Repair Coverage and Skip-A-Payment for those times when you have too much month for your money. ProFed also has approved dealers who can help you find the perfect new ride.

The first step is to get pre-approved for an amount. You then use this as your budget when shopping for a car. Preapproval does not affect your credit score, but applying for a loan does. When you are loan shopping, you can submit all of your applications close together and in doing so, it will have less of an impact on your score. If you want to use a credit union’s new car loan rate, you must become a member before the loan is completed. This involves opening a savings account and making a small deposit. Once your loan is approved, you can take the paperwork to the dealer and take possession of the vehicle. The loan is secured by using the car as collateral.

Check out our current rates and loan protection offers, apply now, or contact us to learn more about our new car loans and other services.